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Gold and the trap door Part III
Gold has spent the past two- and a-bit years trading in a wide range between $1670 and $2070. In our last update on gold two weeks ago here, we noted that gold was again edging towards the bottom of the range, and should gold hold and begin to bounce from this support zone, longs should be considered. Gold undone again by the rampant U.S dollar post-Jackson Hole: The fallout from the Fed Chairs Hawkish speech at Jackson Hole (amongst other things) was enough to push gold to a low late last week at $1688. A move that coincided with the U.S dollar index, the DXY, breaking to fresh record highs and briefly above 110 ... (full story)